French cement major Lafarge has acquired construction and engineering major Larsen and Toubro's ready-mix-concrete (RMC) business for Rs.14.80 billion.

Announcing this here Thursday, a spokesperson of the company said L and amp;T had been supplying RMC to all segments under the brand name L and amp;T Concrete for the last 10 years with a market share of 25 percent.

In one decade, L and amp;T Concrete had established 66 RMC plants across the country covering all metros and major Tier I and Tier II cities.

With this acquisition, Lafarge through its subsidiary Lafarge India has acquired a pan Indian presence.

According to a L and amp;T spokesperson: 'The exit from this line is a part of its strategy to focus on its core business and the services required in the RMC business are very different from L and amp;T's engineering and construction business.'

L and amp;T had earlier exited its cement business through a demerger and sale to Grasim in 2004. The RMC unit was, however, held back and it became a separate entity - L and amp;T Concrete.

According to the company's spokesperson: 'The sale has been effected through a transfer of the business along with all assets, liabilities and employees connected with RMC business.'

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